Systematic Trading

This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree. Author Robert Carver draws on financial theory, his experience managing systematic hedge fund strategies and his own in-depth research to explain why systematic trading makes sense and demonstrates how it can be done safely and profitably. Every aspect, from creating trading rules to position sizing, is thoroughly explained. The framework described here can be used with all assets, including equities, bonds, forex and commodities. There is no magic formula that will guarantee success, but cutting out simple mistakes will improve your performance. You'll learn how to avoid common pitfalls such as over-complicating your strategy, being too optimistic about likely returns, taking excessive risks and trading too frequently. Important features include: - The theory behind systematic trading: why and when it works, and when it doesn't. - Simple and effective ways to design effective strategies. - A complete position management framework which can be adapted for your needs. - How fully systematic traders can create or adapt trading rules to forecast prices. - Making discretionary trading decisions within a systematic framework for position management. - Why traditional long only investors should use systems to ensure proper diversification, and avoid costly and unnecessary portfolio churn. - Adapting strategies depending on the cost of trading and how much capital is being used. - Practical examples from UK, US and international markets showing how the framework can be used. Systematic Trading is detailed, comprehensive and full of practical advice. It provides a unique new approach to system development and a must for anyone considering using systems to make some, or all, of their investment decisions.

作者：罗伯特·卡佛 职业生涯始于巴克莱投资银行，从事衍生品交易;后入职全球知名对冲基金宏量基金（AHL）担任投资组合经理，亲历了2008年全球金融危机之前、期间及之后的完整市场周期。在宏量基金任职期间，主导开发了基本面全球宏观策略，并管理规模达数十亿美元的固定收益投资组合，直至2013年从行业隐退。后成为独立交易员，在网络上公开自己的交易实盘，并对自己的交易系统构建框架进行总结写成这本书，在全球范围内获得极大关注。 · 译者：量化鲲 某央企资产管理部副总裁，中欧工商管理学院MBA导师。曾任职于易方达基金、中信证券、国金创新，就任国金创新FOF事业部总经理期间，资产管理规模峰值为24亿元。熟悉不同投资策略，曾参与尽调300多家私募和公募专户团队，深入研究60家，累计投资32家。